Spring cleaning your finances: a breath of fresh air for your wallet

By Jenny Brown – CEO.

Hey there, financial friends! Just as the sun peeks through the clouds and flowers start to bloom, it’s time to dust off those financial cobwebs and give your money matters a good old spring cleaning. Just like we declutter our closets and scrub our homes, our finances deserve some attention, too.

Here are our top tips for you to get started on decluttering your finances!

Review Your Spending Plan:

Let’s start by revisiting that spending plan (AKA a budget) you set at the beginning of the year (or maybe it’s time to create one if you haven’t yet!). Are you sticking to it? Are there any areas where you can cut back or save more? A well-maintained spending plan is like a roadmap for your financial journey.

Ditch the Financial Clutter:

Have you been hoarding old receipts, bills, and statements? It’s time to let them go! Shred those papers (safely, of course) and opt for digital statements to reduce clutter. A tidy financial space is a clear mind. Oh, but remember to keep those receipts for things to claim at tax time.

Tackle Debt:

If you’ve got debts lurking around, make a plan to tackle them. Consider consolidating high-interest debts, negotiating with creditors, or exploring balance transfer options. Reducing debt can free up cash for more important things.

Assess Your Savings:

Are you saving enough for your goals, whether it’s an emergency fund, a vacation, or retirement? If not, adjust your savings contributions accordingly. Setting up automatic transfers can make this process painless.

Invest Wisely:

Check in on your investments. Are they still aligned with your financial goals and risk tolerance? Rebalance your portfolio if needed. Remember, it’s a long-term game.

Cut Unnecessary Expenses:

Identify those subscriptions and services you no longer use or need. Cancelling them can free up more funds for things that truly matter.

Plan for the Future:

Lastly, revisit your financial goals. Are they still the same, or have they evolved? Adjust your plan as necessary to keep moving forward; remember saving into super can be your best friend long term.

So, there you have it—your financial spring-cleaning checklist. Just like decluttering your home, decluttering your finances can bring a sense of relief and clarity. Plus, it’s a great way to ensure you’re on track to meet your financial goals.

Remember, Rome wasn’t built in a day, and neither are perfect finances. But taking small steps now can make a world of difference in the long run.

Grab that virtual mop and broom, and let’s get cleaning! Your wallet will thank you for it. Now, we understand that some of these tips you may require assistance with, but let’s face it: decluttering is a team effort. JBS Financial is your support team to help you get things in order. Reach out to us today here to help you get started.